Intraday Trading

The USD continued to maintain the gains amid a host of factors. The revised GDP for the fourth quarter saw the US economy rising 2.2% compared to the initial estimates of 2.6%. This was in line with YoY estimates for 2018 and it closed out…
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The January trade deficit data for the United States showed a decline of 15% with the deficit shrinking from a revised $59.9 billion in December to $51.1. The deficit shrank on lower oil imports and surged in soybean exports. The data…
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The New Zealand dollar traded 1.5% lower today after the overnight session showed that the RBNZ was likely to cut interest rates in the near term. The central bank left the official cash rate unchanged at 1.75% at today’s meeting.…
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The US dollar traded weak on Monday as the 10-year bond prices rallied pushing yields lower. The spreads between the 3-month and 10-year yields continued to widen with the inverted yield curve taking a more pronounced shape at the front…
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The EU leaders agreed to the UK’s request to extend Brexit from March 29th to May 22nd if the UK parliament will adopt the Brexit bill this week. PM May initially sought an extension until June 30. Failure by the UK parliament to adopt the…
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The ICE US dollar index gained 0.6% reversing the declines from Thursday. President Trump said that the tariffs on China will stay for a significant period of time despite negotiations resuming next week. However, Washington noted it would…
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The USD was trading weaker on Wednesday after the FOMC meeting yesterday saw the Federal Reserve leaving interest rates unchanged. The Fed also signaled no rate hikes this year according to the dot plot projections. As expected,  they also…
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A number of ongoing global narratives kept a lid on the markets with USD trading subdued ahead of major events this week. These include the two-day FOMC meeting starting today and ending tomorrow, and the Brexit narrative. The GBP…
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EURUSD Forms a Double Top Pattern The euro posted modest gains on Friday as price action settled near March 13 highs of 1.1329, forming a double top pattern. The gains came as final inflation figures for February showed that consumer…
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EURUSD Retreats From 10-day High Following a 3-day streak, eurodollar finally saw a rejection at $1.1340. German inflation CPI data added a negative sentiment to the pair, which provided investors with sell opportunities. Despite an array…
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